Sumitomo Mitsui Financial Group Inc. said first-half net profit plunged 51 percent due to a spike in credit costs and other expenses against the backdrop of financial markets turmoil and a slowing global economy.

Sumitomo Mitsui Financial Group Inc. said first-half net profit plunged 51 percent due to a spike in credit costs and other expenses against the backdrop of financial markets turmoil and a slowing global economy.

All Nippon Airways Co. said quarterly profit fell 15 percent as record oil prices swelled its fuel bill and demand for travel slackened amid the global economic crisis, forcing the airline to cut full year forecasts.